States Grants (Capital Assistance) Act 1979
No. 128 of 1979
An
Act to grant financial assistance to the States in connection with expenditure
of a capital nature and to authorize the borrowing of certain moneys by the Commonwealth.
BE
IT ENACTED by the Queen, and the Senate and House of Representatives of the
Commonwealth of Australia, as follows:
Short
title
1. This Act may be cited as the States Grants (Capital Assistance) Act 1979.
Commencement
2. This Act shall come into operation on the day
on which it receives the Royal Assent.
Grants
to States during year 1979-80
3. (1) There is payable to a State specified in
Column 1 of the Schedule, during the year ending on 30 June 1980, for the
purpose of financial assistance in connection with expenditure of a capital
nature, the amount specified in Column 2 of the Schedule opposite to the name
of that State, less the sum of any amounts paid to that State under section 4
of the States Grants (Capital Assistance) Act 1978.
(2)
Payments for the purposes of this section shall be made in such amounts and at
such times as the Treasurer approves.
Advance
payments to States for 1980-81
4. The Treasurer may, during the period of 6
months commencing on 1 July 1980, make payments to a State specified in Column
1 of the Schedule, for the purpose of financial assistance in connection with
expenditure of a capital nature, of amounts not exceeding in the aggregate the
amount specified in Column 3 of the Schedule opposite to the name of that
State.
Payments
to be made out of Consolidated Revenue Fund or Loan Fund
5. Payments to a State for the purposes of this
Act may be made out of the Consolidated Revenue Fund or the Loan Fund.
Authority to
borrow
6. (1) Subject to sub-section (2), the Treasurer
may, during the period commencing on the date of commencement of this Act and
ending on 31 December 1980, in accordance with the provisions of the Commonwealth Inscribed Stock Act 1911,
or in accordance with the provisions of an Act authorizing the issue of
Treasury Bills, borrow moneys not exceeding in the aggregate the sum of—
(a) $622,500,000; and
(b) the expenses of borrowing.
(2)
For the purposes of the application of sub-section (1), the amount specified in
paragraph (1)(a) shall be taken to be reduced by the sum of any amounts
borrowed by the Treasurer in accordance with sub-section 6(1) of the States Grants (Capital Assistance) Act 1978
for the purpose of making payments to the States in accordance with section 4
of that Act.
Application
or moneys borrowed
7. Moneys borrowed under sub-section 6(1) shall be
issued and applied only for the expenses of borrowing, for the purpose of
making payments to the States in accordance with this Act and for the purpose
of making payments to the Consolidated Revenue Fund in accordance with section
8.
Reimbursement
of Consolidated Revenue Fund from Loan Fund
8. (1) Where an amount has been paid out of the
Consolidated Revenue Fund under this Act or under section 4 of the States Grants (Capital Assistance) Act 1978,
the Minister of State for Finance may authorize the payment to that Fund, out
of the Loan Fund, of an amount not exceeding the amount so paid.
(2)
In any statement prepared by the Minister of State for Finance under section 50
of the Audit Act 1901, amounts paid
to the Consolidated Revenue Fund under sub-section (1) of this section shall
not be shown as receipts of that Fund but shall be shown as having reduced the
total of the amounts expended from that Fund under this Act and under section 4
of the States Grants (Capital Assistance) Act 1978.
Appropriation
9. The Consolidated Revenue Fund and the Loan Fund
are appropriated as necessary for the purposes of this Act.
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SCHEDULE Sections 3 and 4
Column
1 | Column 2 | Column 3 |
Maximum |
aggregate |
Amount of | amount of |
grant under | payments |
sub-section | under |
State | 3(1) | section 4 |
$ | $ |
New South Wales................................... | 134,146,000 | 67,073,000 |
Victoria.................................................. | 104,260,000 | 52,130,000 |
Queensland............................................ | 55,026,000 | 27,513,000 |
South Australia...................................... | 54,083,000 | 27,041,500 |
Western Australia................................... | 38,400,000 | 19,200,000 |
Tasmania............................................... | 29,085,000 | 14,542,500 |
415,000,000 | 207,500,000 |